WE have surplus power in the grid to the tune of 40-50 per cent of the installed capacity, which is telling, as we need to pay capacity charges and fixed costs regularly even though we do not utilise this excess energy.
This is alarming and regrettable, and points to the lack of industrialisation and business activities in the country. Neither any significant new industries and projects have been launched in the last three to four years to consume this surplus power to match the installed power generation capacity, nor are there any signs in this regard for the foreseeable future.
It is futile to blame the building up of notorious circular debt and frequent power tariffhikes and relatedfalloutsin other nation-building sectors.
Relevant policies to attract local and foreign investments are critical for the overall economic takeoff.
The power sector is reeling in the dark with many unresolved issues and is in dire need of a transparent workable roadmap to steer it out of the woods.
With the induction of the new finance minister, one hopes that better senseand direction will prevail and the root causes of the economic meltdown will be identified and addressed on an urgent basis.
